QCEC(SH:600218)2024-04-29 09:05Financial Performance - The company's operating revenue for Q1 2024 was CNY 1,221,918,108.70, representing a decrease of 25.20% compared to the same period last year[5] - The net profit attributable to shareholders was CNY 25,362,048.76, down 20.80% year-on-year[5] - The net profit attributable to shareholders after deducting non-recurring gains and losses was CNY 18,424,199.55, a decrease of 20.09% compared to the previous year[5] - The basic earnings per share for the period was CNY 0.06, down 14.29% from the same period last year[5] - Net profit for Q1 2024 was CNY 24,705,554.50, a decline of 21.9% from CNY 31,679,602.42 in Q1 2023[18] - Earnings per share for Q1 2024 were CNY 0.06, compared to CNY 0.07 in Q1 2023[19] Cash Flow - The net cash flow from operating activities was negative CNY 252,845,399.08, a decline of 12.19% year-on-year[5] - Cash inflow from operating activities in Q1 2024 was CNY 671,051,034.49, down from CNY 771,173,655.96 in Q1 2023[22] - The net cash outflow from operating activities was -$252.85 million, compared to -$225.37 million in the previous quarter, indicating a decline in operational cash flow[23] - The total cash outflow from operating activities was $923.90 million, compared to $996.55 million in the previous quarter, indicating a reduction in cash outflows[23] Assets and Liabilities - The total assets at the end of the reporting period were CNY 6,026,312,917.68, a decrease of 0.67% from the end of the previous year[6] - The total liabilities as of Q1 2024 were CNY 2,802,931,705.97, a decrease from CNY 2,867,827,481.81 in Q1 2023[16] - The total current asset of RMB 4,518,869,399.16, slightly down from RMB 4,527,656,191.03[14] - Cash and cash equivalents decreased to RMB 646,796,266.72 from RMB 858,435,838.44, representing a decline of approximately 24.6%[13] Investments - The company experienced a net cash inflow from investment activities of CNY 507.89 million, indicating a larger decrease in cash paid for investments compared to cash received[8] - The cash inflow from investment recoveries was $130 million, down from $573 million in the previous quarter, reflecting a decrease in cash recoveries from investments[23] - The cash outflow for investment activities totaled $87.34 million, compared to $571.41 million in the previous quarter, indicating a reduction in capital expenditures[23] Shareholder Equity - The equity attributable to shareholders increased to CNY 3,185,684,829.27, reflecting a growth of 0.79% compared to the previous year[6] - The total equity attributable to shareholders was CNY 3,185,684,829.27, an increase from CNY 3,160,798,388.67 in Q1 2023[16] Operational Insights - The company reported a significant decrease in sales volume, which impacted both revenue and cost of sales[8] - The company continues to focus on expanding its market presence and enhancing its product offerings through ongoing research and development initiatives[11] - There are no significant reminders or additional important information regarding the company's operational status during the reporting period[11] Research and Development - Research and development expenses for Q1 2024 were CNY 35,974,179.66, a decrease of 9.4% from CNY 39,670,558.29 in Q1 2023[17] Financial Adjustments - The company reported a financial asset impairment loss of CNY 21,386,846.33 in Q1 2024, an improvement from CNY 40,367,381.94 in Q1 2023[18] - The company received tax refunds amounting to CNY 4,772,688.64 in Q1 2024, compared to CNY 1,011,986.53 in Q1 2023[22]